Strike launches Walyering reserves report
Sydney-listed Strike Energy on July 21 released the maiden independently certified reserves and resources report for the Walyering gas field located in the Perth basin in Western Australia.
RISC Advisory has estimated gross 2P gas reserves of 54 petajoules (PJ) and 0.55mn barrels of associated condensate, the company said. Given Strike’s 55% ownership of the project, this translates to 30 PJ of gas reserves and 0.3mn barrels of associated condensate net to the company. Talon Energy owns the remaining 45% interest.
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Strike said the reserves certification supported a progression into project development and construction, recognising the success of the drilling, appraisal and development programmes to date.
RISC has recognised the growth potential of Walyering with a further gross 2C contingent resource of 32 PJ and 0.31mn barrels of associate condensate, alongside 16 PJ of gas and 0.16mn barrels of condensate of gross 2U prospective resources in undrilled or untested compartments and reservoirs of the Walyering gas field’s Cattamarra Sands.
Strike said it intends to shortly engage with the EP447 joint venture to contemplate a final investment decision given the proposed development has successfully passed through its primary environmental review process. The investment decision would consider taking the Walyering gas field into construction and commissioning immediately, it said.
A full field development cost of A$14.2mn, including contingency, is estimated to complete the existing wells and construct the associated 33mn ft3/d (up to 37 terajoules/d) and 1,400 barrels of condensate storage and offloading upstream infrastructure, Strike said. This would be tied into the Parmelia gas pipeline and or the Dampier to Bunbury natural gas pipeline.
Momentum Engineering is currently finalising the detailed design for the upstream plant and pipeline tie-in. Gas contracting processes for the ramp-up and firm supply contracts are expected to complete in Q3 or Q4 of this year, the company said.